Nauru faces uncertain economic future as asylum seekers leave and the money dries up
6 years, 6 months ago

Nauru faces uncertain economic future as asylum seekers leave and the money dries up

ABC  

Regional leaders attending the annual Pacific Islands Forum have gathered on the tiny island of Nauru, one of the few countries to have been both the richest and the poorest in the world in the last 50 years. Key points: Nauru first became the site of an Australian-funded processing centre in 2001 It draws revenue from the visa fees it charges per asylum seeker and Australian aid Nauru's economy contracted last financial year by about 3 per cent because of reduced refugee numbers An economic windfall in the form of vast phosphate deposits saw Nauruans enjoy one of the highest GDP figures per capita of any country when the nation gained independence in the 1960s. Last year, Senate committee figures showed Australia's offshore processing facilities on Manus and Nauru had cost the government almost $5 billion since 2012. Nauru's economy contracted last financial year by about 3 per cent, and it's not expecting any growth this year either, citing "uncertainty" about the number of refugees and the operation of the RPC. Nauru has some phosphate left — called "secondary deposits" — but the Government said in its recent budget that the economic viability of a proposed operation to mine it "has yet to be proven".

History of this topic

Legal challenge launched to Australia's paid deportation to Nauru
1 month, 1 week ago
Rights groups slam Australian plan to transfer criminals to Nauru
1 month, 1 week ago
Australia plans to deport 3 violent criminals to Nauru
1 month, 2 weeks ago
Nauru to take non-citizen NZYQ cohort freed from immigration detention
1 month, 2 weeks ago
A teenager is among the first boat arrivals sent to Nauru in nine years
1 year, 5 months ago
End Days for Australia’s Nauru Detention Center?
1 year, 8 months ago
Australia ends migrants housing deal with Papua New Guinea
3 years, 5 months ago
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6 years, 1 month ago
Shock statistic that proves Australia wants children and their families OFF Nauru
6 years, 5 months ago
Asylum seeker doctor removed from island as Nauruan Government blocks medical evacuation
6 years, 6 months ago
Refugee crisis rears its head at Commonwealth Games on Gold Coast
6 years, 11 months ago
Australia to pay $53m to Manus Island asylum seekers
7 years, 9 months ago
Australia poised to announce refugee resettlement deal with United States
8 years, 4 months ago
Nauru detention centre concerns downplayed by Department of Immigration
8 years, 5 months ago
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8 years, 6 months ago
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8 years, 10 months ago
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9 years ago
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9 years ago
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9 years, 1 month ago
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9 years, 2 months ago
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9 years, 4 months ago
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9 years, 5 months ago
Activist group leads rally, says Nauru, Manus Island detention centres must be closed
9 years, 11 months ago
More refugee claims processed for asylum seekers on Nauru
10 years, 10 months ago
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10 years, 10 months ago
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11 years, 2 months ago
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11 years, 2 months ago
Nauru agrees to settle refugees for Australia
11 years, 7 months ago
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12 years, 5 months ago
Nauru hikes asylum seeker visa costs
12 years, 5 months ago
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12 years, 6 months ago
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12 years, 6 months ago
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12 years, 6 months ago
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12 years, 6 months ago
Bowen signs Nauru processing agreement
12 years, 6 months ago
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Nauru bows to US and shuts down its banks
21 years, 11 months ago

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